Ingevity’s (NGVT) Sell (D-) Rating Reaffirmed at Weiss Ratings

Ingevity (NYSE:NGVT)‘s stock had its “sell (d-)” rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company increased their price objective on Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, BMO Capital Markets raised their price target on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingevity presently has a consensus rating of “Hold” and an average price target of $58.00.

Ingevity Price Performance

Shares of NYSE NGVT opened at $54.38 on Wednesday. The stock has a fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $45.37. Ingevity has a 1-year low of $28.49 and a 1-year high of $60.77. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -9.14 and a beta of 1.40. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.37. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business had revenue of $365.10 million during the quarter, compared to analyst estimates of $378.70 million. During the same period in the prior year, the company earned $1.01 earnings per share. Ingevity’s revenue was down 6.5% compared to the same quarter last year. Ingevity has set its FY 2025 guidance at EPS. Analysts anticipate that Ingevity will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Ingevity

Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its position in shares of Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after buying an additional 387 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ingevity in the second quarter worth $46,000. GAMMA Investing LLC raised its position in shares of Ingevity by 119.1% in the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock worth $45,000 after buying an additional 618 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Ingevity in the second quarter worth $60,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Ingevity by 51.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.